Since the beginning of the 1980s, an increase in the number of fixed-term employment contracts has been apparent in a number of free-market-oriented economies. This has been accompanied by amendments to the pertinent legislation. From the early to mid-1980s, a number of EC countries initiated...

This paper analyses the adjustment mechanism in the euro area prior to the crisis. Results show that the real exchange rate adjusted to redress cyclical divergences and that after monetary unification, real exchange rate dynamics became less reactive to country-specific shocks but also less...